Big steps taken to boost infrastructure in last 10 years: PM Modi
On the 78th Independence Day, Prime Minister Narendra Modi highlighted significant advancements in infrastructure achieved by his government over the past decade. Speaking from the Red Fort, he emphasized the construction of four crore houses with an additional three crore planned. Modi stressed that these developments aim to enhance both infrastructure and ease of living. Key Points
Economic TimesSRM Contractors shares list at 7% premium over issue price
SRM Contractors had a positive debut on BSE and NSE. Analysts praised the company's project control, financial performance, and focus on infrastructure projects in Jammu and Kashmir. Key Points
Economic TimesNaBFID to sanction Rs 3 lakh crore by March 2026 to support infra development
To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution. Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years. Key Points
Economic TimesBudget 2024: Continuity of SWFs/ PF tax benefits by extending sunset clause to 31 March 2025 – Augurs well
The Finance Minister presented the Interim Budget 2024, which focuses on infrastructure and investment. The budget allocates over ₹11 Lakh crore for the upcoming year, constituting 3.4% of the GDP. The government recognizes the importance of green energy and aims to achieve 'net-zero' by 2070. In order to finance infrastructure projects, the government has extended the tax exemption for qualifying investments made by Sovereign Wealth Funds and Pension Funds until March 2025. Key Points
Economic TimesBudget 2024: Need for Infra Push 2.0 to make India's roads & railways one of world's best
Interim Budget: India has made significant strides in improving its infrastructure capacity, with a major push from government spending. The upcoming budget may not have big announcements, but the focus on infrastructure is expected to continue. The government has spent 23 lakh crore rupees on infrastructure in the past three years, with roads, highways, and railways receiving significant investment. In addition, the government has incentivized states and increased the availability of power, accelerated highway and rural road construction, and improved logistics. Key Points
Economic Times
Will share infra planning tool PM GatiShakti with neighbouring countries: DPIIT Secretary
New Delhi will share the PM GatiShakti initiative with neighbouring countries free of cost. The initiative is an infrastructure planning tool that helps in effective planning and implementation of projects. India wants to showcase and integrate the initiative in other countries as well Key Points
Economic TimesBudget 2024: A compelling case for a sunset extension for Sovereign and Pension Funds tax incentive
Union Budget 2024: India's infrastructure development is a key priority for the government, aiming to become the world's third largest economy by 2030. The government has implemented various initiatives such as the National infrastructure Pipeline, National Monetization Plan, and the National Investment and infrastructure Fund to promote infrastructure development. To attract long-term investment, a tax incentive provision was introduced in the Income-tax Act, providing complete tax exemption for Pension Funds and Sovereign Wealth Funds investing in infrastructure. Key Points
Economic TimesAtal Setu bridge only the beginning? Modi govt’s ambitious infra push bears fruit
India's Prime Minister Narendra Modi is set to open India's longest bridge, the Atal Setu, in a ceremony to mark the start of his government's infrastructure drive. The five-year, $1 trillion initiative aims to boost jobs and keep up with China and other modernising economies. The bridge, which will cost $2.2 billion, will cut travel time between central Mumbai and Navi Mumbai Key Points
Economic TimesIRB infrastructure share price surges 7% to hit 52-week high as December toll collection jumps 26% YoY
IRB infrastructure Developers share price surges 7% to touch 52-week high as toll collection jumps 26% YoY to ₹488 crore. IRB infrastructure Developers stock price breaks above recent swing high, likely headed towards ₹49 and ₹54. Key Points
mintNational infrastructure Pipeline outlay stands at Rs 109 lakh crore
The government has authorised the Department of Posts, all public sector banks and four private sector banks to operate MSSC, he said, adding that some lenders like Axis Bank, HDFC Bank, ICICI Bank, and IDBI Bank have not yet started the scheme. Mahila Samman Savings Certificate Scheme has been made available for a two-year period up to March 2025. Key Points
Economic Times
Correction are some times opportunities; 5 mid & smallcap cement stocks with upside potential of up to 30%
Cement has been a sector where most of the analysts have been caught off guards. The stocks have done well and a large number of analysts have been sticking to their stands that pricing and capacity utilization is an issue. What they probably ignored was the fact that any industry which has been facing headwinds for a long time tends to sort the issues and few players are able to make a comeback as consolidation takes place. Pretty much what we have seen in power. Due to government focus on infrastructure for the last nine years, a number of cement players have been able to improve their balance sheets and also become operationally efficient. With the policy continuity there is a high probability that we may see a similar trend in coming years. Key Points
Economic TimesIndia’s infrastructure Push Is Key to Taking on China
Infrastructure investment could be a backbone of India’s economic growth. It just needs a lot more private money. Key Points
mintVision 2047: Infra to be biggest driver for growth push
India's infrastructure sector is set to become the biggest driver for the country's economic growth, with plans to invest ₹143 trillion on infrastructure between 2024 and 2030. The focus will be on sectors such as roads, power, EVs, solar, wind, and hydrogen. Key Points
mintView: What India needs to sustain its infrastructure development momentum
Compared to FY2019, four sectors - roads and highways, power transmission, RE, and ports - have a score of greater than 70% in Crisil's InfraInvex index in FY2023, while RE, railways and power have logged improvement of over 15% (compared to 2019), driven by reforms and improvement in financial metrics. The next phase of infra development will be shaped by growth in the average ticket size of projects and a significant number of mega-scale projects. Key Points
The Economic TimesNational infrastructure Pipeline outlay stands at Rs 109 lakh crore
The government has authorised the Department of Posts, all public sector banks and four private sector banks to operate MSSC, he said, adding that some lenders like Axis Bank, HDFC Bank, ICICI Bank, and IDBI Bank have not yet started the scheme. Mahila Samman Savings Certificate Scheme has been made available for a two-year period up to March 2025. Key Points
Economic Times
Another winner of Elections; 5 construction & contracting companies having upside potential of up to 56%
Continuation of policies was the buzzword on the street on Monday. The reason was very simple, with strong wins in states, hope on the street is that election 2024 should see the continuation of the same government. which essentially means the sectors which have been in focus for the last nine years will continue to see positive policy push and stability. On top of the list is the infrastructure sector. Beside the steel and cement which are the biggest beneficiary of the infrastructure boom, it is construction and contracting companies which gain the maximum as infrastructure continues to get the push. ET screener powered by Refinitiv’s Stock Report Plus lists down infrastructure stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesIIFCL approves loans worth Rs 8,800 cr to boost civil aviation infra
India infrastructure Finance Company Limited (IIFCL) has approved loans amounting to Rs 8,800 crore for the development of airports and civil aviation infrastructure in India. The IIFCL, which has already sanctioned loans of around Rs 4,000 crore, plays a significant role in financing airport projects in the country. With increasing investments from both the government and private sector, India's airport sector has witnessed massive growth in recent years. Key Points
Economic TimesPPP push: FinMin asks infra depts to identify projects for private partnership
India's finance ministry has asked infrastructure departments to identify possible projects for private partnership. The move aims to draw greater private capital into public infrastructure and reduce delays, through particular focus on sectors like urban infrastructure, railways and roads. The ministry plans to roll out a public-private partnership architecture and standard model concession agreement framework for various infrastructure sectors. Key Points
Economic TimesRBI relaxes infrastructure debt funds guidelines
The Reserve Bank of India has relaxed regulations on infrastructure Debt Funds to expand infrastructure financing. IDFs will now be able to access funds without a sponsor, finance Toll Operate Transfer projects as direct lenders and access external commercial borrowings. Additionally, tripartite agreements have been made optional for PPP projects. Key Points
Economic TimesFM Sitharaman stresses on attracting private investment to develop urban infra
We need alternate solutions to leverage private sector participation in this context. Innovative financing instruments such as blended finance, structured project finance, securitization, thematic bonds, biodiversity offerings...and local currency finance, are some of the needs, FM Sitharaman said. Key Points
Economic Times
India’s own ‘Google Maps’ to Gati Shakti Master Plan – Modi govt’s key infrastructure projects
"In #9YearsOfGatiAndPragati, we nurtured the roots of growth and development in India, shaping an infrastructure landscape that is unparalleled. Every sector has witnessed swift advancement, setting the stage for a developed India," the prime minister said in a tweet. Key Points
FinancialexpressFrom telecom to transportation hubs: Chinese hackers spying on US critical infrastructure, says Western intelligence
Western intelligence agencies and Microsoft (MSFT.O) on Wednesday reported that a state-sponsored Chinese hacking group has been spying on a wide range of US critical infrastructure organizations. Key Points
India TodayIndia's Coalition for Disaster Resilient infrastructure annual meet to scale up potential solutions for re
The theme of the conference is Delivering Resilient and Inclusive Infrastructure: Pathways for Risk-Informed Systems, Practices and Investments. The two-day hybrid conference seeks to emphasize the need to integrate resilience in infrastructure, ensure access, delivery, and continuity of essential services to people and communities in the face of increasing exposure and impact of disasters and extreme climatic events. Key Points
Economic TimesIndia's 'eye-watering' 1.7 pc spend on transport upgrade to set stage for $5 trillion economy
The Indian government is spending 1.7% of its GDP on transport infrastructure this year, which is more than twice the level in America and most European countries. This investment is expected to create jobs and boost the economy. The government is also focusing on reviving 50 additional airports, heliports, water aerodromes, and advance landing grounds. Key Points
Economic Times100 industrial clusters identified for infrastructure development
This is in sync with Prime Minister Narendra Modi's vision of 'area-based' development approach. The number of such clusters will go up as we move ahead, Sumita Dawra, special secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters here on Thursday. Key Points
Economic Times
Akanksha Power and Infra IPO opens next week; price band set at ₹52-55 apiece
Akanksha Power and infrastructure IPO is a book built issue of ₹27.49 crore. The issue is entirely a fresh issue of 49.98 lakh shares. Key Points
mintView: India urbanisation critical for getting developed tag
Building the necessary infrastructure will be key for creating livable, climate-resilient, and inclusive cities that drive the economy forward. Since nearly 70 % of the urban infrastructure needed by 2047 is yet to be built, sizeable investments will be required. By 2036, India will need to invest $840 billion in infrastructure - an average of $55 billion or 1.2 % of GDP per annum. However, estimates suggest that between 2011 and 2018, the country's total capital expenditure on urban infrastructure averaged only 0.6 % of GDP, half the required quantum of investment. Key Points
Economic TimesInfra credit growth in slow lane despite growing optimism
Infrastructure loans in April grew 1.7% year-on-year to ₹12.2 trillion after a 0.7% contraction in the previous month Key Points
mintPM GatiShakti: 208 infra projects worth Rs 15.39 lakh crore recommended for approval
208 infrastructure projects worth Rs 15.39 lakh crore have been recommended under PM GatiShakti, enhancing coordination across ministries such as roads and railways. The initiative aims to streamline logistics costs through integrated planning, with substantial use of geospatial data and inter-ministerial collaboration. Key Points
Economic TimesSocial sector infrastructure to be part of PM GakiShakti plan: DPIIT secretary
The government is expanding its infrastructure plans to include social sectors such as hospitals, Anganwadi, schools, and colleges. The PM GatiShakti National Master Plan aims for integrated and synchronised implementation of projects, breaking departmental silos. Last-mile connectivity and area planning will be prioritized, ensuring saturation coverage and better planning across the country. Key Points
Economic Times
Budget 2024: How Sitharaman can help you get more out of your vacation
Budget expectations: Finance Minister Nirmala Sitharaman is presenting the interim budget on February 1. The tourism and hospitality sector has high hopes for helpful government policies to cater to the rising domestic tourism demand with quality infrastructure and services. For years, the hospitality industry has been advocating for infrastructure status, which would grant hotel projects access to affordable debt on par with other industries. This status promises reduced capital costs, positively impacting project completion timelines, financial well-being, and ultimately improving service quality, infrastructure, and competitiveness. Key Points
Economic TimesIndia's newest infra lender to loan Rs 1 lakh crore this fiscal
The infrastructure lender, which started operations last year, has sanctioned in-principle loans worth 450 billion rupees so far and is ready to disburse 230 billion rupees, said Rajkiran Rai, managing director of NaBFID. NaBFID was set up as a development finance institution to help fill the gap in infrastructure financing after commercial banks withdrew from the space due to large defaults between 2010 and 2015. Key Points
Economic TimesWho will finance the mega cities of the future?
Recently, G20’s infrastructure working group concluded its meeting in Visakhapatnam. The focus was on urban infrastructure financing. Mint explains why the financing of future cities is a pressing need and the options available Key Points
mintNeed to create credit enhancement facility: Finance Minister to NaBFID
Finance Minister Nirmala Sitharaman has asked NaBFID to introduce a structured partial credit enhancement facility and create a data repository for the infrastructure sector. She also advised NaBFID to develop sector specialisation and evaluate large and complex infrastructure projects. Key Points
Economic TimesUS, Microsoft warn Chinese hackers attacking ‘critical’ infrastructure
State-sponsored Chinese hackers have infiltrated critical U.S. infrastructure networks, Microsoft said. Key Points
The Hindu
8 textile parks, 129 pharma clusters mapped on PM GatiShakti National Master Plan: govt
In a recent development, the government revealed significant progress in key sectors aimed at boosting economic growth. The Ministry of Textiles disclosed that eight sanctioned PM Mitra Parks have been meticulously mapped on the PM GatiShakti National Master Plan (NMP) portal. This strategic move is expected to streamline the implementation of projects, fostering efficiency and coordination. Key Points
Economic TimesElection push coming? 4 construction & contracting companies with ‘Buy’ recos have upside potential of up
With the upcoming state elections in 2024, infrastructure projects are expected to be a focus for the government. Increased government spending on infrastructure has been a trend in recent years, benefiting companies in the construction and engineering sector. The attention of investors is now shifting towards small companies involved in subcontract work for these projects. Four construction stocks listed on the NSE, NCC Limited, PSP Projects Limited, Larsen and Toubro Limited, and Ahluwalia Contracts (India) Limited, have scored well based on earnings, fundamentals, relative valuation, risk, and price momentum, according to Refinitiv's Stock Reports Plus. Key Points
Economic TimesIndia braces for Biparjoy: Economic consequences loom as infrastructure, livelihoods to take a blow
Cyclonic storm Biparjoy, expected to hit Gujarat and neighbouring Pakistan, may cause extensive damage to infrastructure and the economy. Evacuations have affected daily wage earners while exports are disrupted as major corporations like Reliance Industries and Adani Group have suspended operations in the region. infrastructure bears the brunt of cyclonic fury, leading to a slowdown in business activity and causing the country's GDP growth to stumble under the weight of natural calamities. Key Points
Economic TimesUkraine says it hit two Russian warships in strikes on Crimea
Ukrainian military strikes Russian ships in Crimea, damaging infrastructure. Casualties reported. Russian official confirms air strikes. Transport vehicles damaged. Unclear extent of the destruction. Key Points
Economic TimesChange with the times: NSC Committee suggests overhaul of statistics infra
The panel submitted a report to the NSC, which will suggest the way to take the process forward to the statistics and programme implementation ministry, they said. The move come after the ministry suggested leveraging big data analytics, artificial intelligence and machine learning in its revised draft of national policy on official statistics in August. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/JFXSJR7GGJLJBA3CZ7TUMLRCWE.jpg)
India's October infrastructure output up 12.1% on year
India's infrastructure output rose 12.1% year-on-year in October with growth across all sectors, government data showed on Thursday. Key Points
ReutersIndia's Dilip Buildcon Q2 profit soars on steady infrastructure demand
India's Dilip Buildcon (DIBL.NS) reported a fourfold surge in second-quarter profit on Tuesday as the developer benefited from steady infrastructure demand in its urban and water supply business. Key Points
ReutersMacquarie, KKR seek Rs 8,500 crore in loans for their respective roads businesses in India
Macquarie is raising around Rs 6,100 crore of loans to refinance the existing debt of its toll-operate-transfer (TOT) bundle, the first and the most valued such bundle to be sold by the National Highways Authority of India (NHAI) in 2018 for a winning bid of Rs 9,681.5 crore. This was also the biggest TOT bundle in terms of the roads to be monetised by the NHAI, involving 9 toll roads. Key Points
Economic TimesGPT Infraprojects bags Rs 739-cr order from NHAI
Kolkata-based infrastructure firm GPT Infraprojects has secured a contract worth Rs 739 crore ($99 million) from the National Highways Authority of India (NHAI). The contract is for the construction of a four-lane bypass in Uttar Pradesh. This is the largest single order in the company's history, and its outstanding order book now stands at approximately Rs 2,838 crore ($381 million). Key Points
Economic TimesIndia to spend nearly Rs 143 lakh crore on infrastructure between FY24 and FY30: Crisil
Crisil Ltd managing director and CEO Amish Mehta said the agency expects India's gross domestic product to grow at an average 6.7 per cent through fiscal 2031 to be the fastest-expanding large economy. Key Points
Economic Times
Turning attention to largecaps; 3 stocks on radar: Sanjiv Bhasin
My top pick is Larsen & Toubro. There is a new tie up with Hindustan Aeronautics. Defence now taken centrestage after Chandrayaan 3. And Larsen & Toubro fits the bill perfectly. It is a must-have in a portfolio. Use this correction to buy. Two, I have been very bullish on Apollo Hospital and that could be a very good play for a target of 6,000. Third, I am very bullish on LTIM. In IT, there will be a re-rating and it will be led by LTIM. Key Points
Economic TimesElections & Infrastructure: 4 construction & contract companies with ‘strong buy’ and ‘buy’ rating can ris
Karnataka was the first state election in the series of elections which we will witness in 2023 before the general election of 2024. The government spending on infrastructure projects, which has remained at elevated levels for many years, may see a further push as many state governments rush to complete and announce more of them. This will have a trickle down effect on many parts of the economy and specially companies in contracting and construction. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesIndia deepest market for infrastructure in Asia : KKR
International Business News: India is turning out to be one of the biggest markets in Asia for infrastructure financiers, according to KKR. Discover the potential of India's infrastructure market and how KKR is investing in it. Get insights into the top markets for KKR in Asia and the predicted contribution of India to global growth. Key Points
Times Of India